Ieq Capital LLC Takes $2.13 Million Position in Sirius XM Holdings Inc. $SIRI

Ieq Capital LLC purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 53,847 shares of the company’s stock, valued at approximately $2,127,000.

Other large investors have also recently added to or reduced their stakes in the company. Callan Family Office LLC acquired a new position in Sirius XM during the 2nd quarter worth $1,547,000. Allworth Financial LP acquired a new position in Sirius XM in the second quarter worth about $429,000. Virtus Advisers LLC acquired a new position in Sirius XM in the second quarter worth about $77,000. Hara Capital LLC bought a new stake in Sirius XM in the second quarter valued at about $1,181,000. Finally, PCM Encore LLC acquired a new stake in Sirius XM during the second quarter valued at approximately $1,644,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Price Performance

Shares of SIRI opened at $28.73 on Wednesday. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $32.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a fifty day moving average price of $29.62 and a 200 day moving average price of $26.39. The company has a market cap of $9.68 billion, a P/E ratio of 11.49, a PEG ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts forecast that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be given a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM’s dividend payout ratio (DPR) is currently 43.20%.

Insider Transactions at Sirius XM

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the transaction, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SIRI. Morgan Stanley lifted their target price on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Benchmark restated a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Guggenheim reaffirmed a “buy” rating and issued a $35.00 price objective (up from $34.00) on shares of Sirius XM in a report on Friday, July 31st. Wells Fargo & Company increased their target price on shares of Sirius XM from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price target on shares of Sirius XM in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.92.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.